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Growth of Edible Packaging Market

Edible Packaging Market

The global Edible Packaging Market is estimated to be valued at US$ 1067.15 Mn or Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: - 

Edible packaging utilizes materials derived from plant or animal sources that can be eaten along with the product being packaged. Edible packaging serves the dual purpose of protecting foods during storage and providing additional nutritional value. Common materials used for edible packaging include seaweed, agar, carrageenan and gelatin. Edible films or coatings help increase shelf life by acting as barriers to moisture, gases, and microbes.

Market key trends: -

Growing demand for sustainable and eco-friendly packaging solutions is a major factor fueling growth of the global edible packaging market. Manufacturers are focusing on developing innovative edible films and coatings from natural polymers and biodegradable materials to provide greener packaging alternatives. Adoption of edible packaging allows reduction in plastic waste and is beneficial for the environment. Rising health consciousness among consumers has increased demand for packaged foods with additional health benefits. Edible packaging imprinted with nutrition information is finding wider application in food products. Ongoing research to enhance mechanical and barrier properties of edible films through addition of nanoparticles also supports market expansion.

SWOT Analysis: -

  • Strength: - Edible packaging offers complete biodegradability and sustainability as it gets digested when consumed. It also serves a dual purpose of packaging and consumption.
  • Weakness: - High costs involved in R&D and production of edible films and coatings. Limited shelf life and moisture barrier properties compared to conventional plastics.
  • Opportunity: - Growing demand for sustainable solutions driven by stringent regulations against single-use plastics. Increasing health-conscious consumer base looking for natural ingredients.
  • Threats: - Conventional plastic packaging still dominates the market due to lack of awareness. Issues with scaling production to meet bulk commercial requirements.

Key Takeaways: -

The Global Edible Packaging Market Growth is expected to witness high, exhibiting CAGR of 6.2% over the forecast period, due to increasing regulations banning single-use plastics and growing consumer preference for sustainable solutions.

The Asia Pacific region is projected to dominate the global market during the forecast period. Countries like China, Japan and India offer lucrative opportunities for growth due to rising health consciousness, large population and economic growth.

North America is expected to grow at a significant rate due to stringent regulations restricting conventional plastics and presence of major players pioneering innovative edible films and coatings in the region.

Key players operating in the edible packaging market are MonoSol, Kuraray Co. Ltd., JRF Technology, WikiFoods Inc., Safetraces Inc., and Tate and Lyle Plc.New Zealand Manuka Group, Hispanagar, Acroyali Holdings Qingdao Co., Ltd., Industrias Roko, S.A., Neogen, Merck Group, Agarindo Bogatama, Setexam, and Norevo GmbH.

 

Read More - https://www.insightprobing.com/edible-packaging-market-forecasts-and-size-analysis/

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